News Corp Shares Highest Since 2007 Dow Jones Acquisition

News Corp.’s publishing arm could be worth north of $6.4 billion, according to Wells Fargo analysts this morning.

Bloomberg News

The media giant is among the latest conglomerates to consider splitting up, according to a Wall Street Journal report this morning, and so far the prospect has pushed its shares up about 6.9% to $21.46 in early trading. That would be the highest the stock has traded since the end of 2007, when it closed on the acquisition of Dow Jones & Co., publisher of The Wall Street Journal. The stock hasn’t had a 5% one-day gain all year.

WSJ reports the split being considered would divide the film and television businesses from News Corp.’s print publishing units. News Corp. in a statement Tuesday confirmed that it is “considering a restructuring to separate its business into two distinct publicly traded companies.”